Despite the declining number of expatriates, there has been a significant increase in affluent and wealthy individuals in Singapore, due to the influx of family offices and fund management companies. The exit of expatriates in middle management roles is not a cause for concern, as the target demographic of the wealthy is increasing in the city-state.
Sustainability and zero-waste initiatives have entered the vernacular of premium beauty and personal care. Refills were formerly a mainstay in two categories, bath and shower and hair care.
Traditional beauty and personal care brands face increasing competition due to third-party e-commerce sellers and declining consumer interest. Certain premium brands are therefore venturing into services.
Increasingly, consumers are starting to look at a brand’s premium beauty offering as their first luxury purchase, and this trend is here to stay. Handbags and small leather goods have taken a backseat to colour cosmetics and simple ready-to-wear offerings.
The sale of sample-sized premium products is not uncommon in health and beauty specialist retailers. However, the Advanced Night Repair is Estée Lauder's signature serum, and the full-sized product is available at the mass health and beauty specialist retailer Watson’s Singapore.
Undeniably, luxurious packaging and frills are driving the purchase of premium offerings. Before the pandemic, a purchase from the Chanel Beauty counter in department stores would usually come with a complimentary pass for travel retail.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.See All of Our Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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